Medical Waste Management Market Opportunities, Growth Analysis and Forecast to 2026
Healthcare
activities generates a lot of waste, especially from the frequently
used consumables, which are harmful for in-patients and healthy
population. Medical waste includes waste generated within research
centers and health-care facilities for example, sharps waste,
infectious waste, pathological waste, pharmaceutical waste, chemical
waste, and radioactive waste. The waste product that are generated by
the healthcare activities have higher potential to spread infection
and injuries. Inadequate or incorrect handling of medical waste may
cause serious public health issues such as HIV, tuberculosis,
hepatitis, and other bacterial diseases and also have irreversible
impact on the environment.
According to Journal
of Hospital Infection, in 2013, around 20% of medical waste cause
risks of trauma, infection, chemicals or radiation exposure.
Effective medical waste management is crucial for environment and
health protection. According to World Health Organization (WHO), in
2015, around 16 million syringes are administrated every year, among
which only few are disposed properly, in turn creating risk of
injuries and infection. Moreover, UNICEF and WHO collaborated in
2015, launched a global initiative to ensure that all healthcare
facilities have proper and adequate water, hygiene, and sanitation
services, which also include healthcare waste disposal management.
Various strategies are adopted by national and international bodies
on the development and implementation on education and training
programs for medical staff and patients, emphasizing on proper
medical waste management.
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Medical
Waste Management Market Taxonomy
By
Technique:
-
Incineration
-
Autoclaving
-
Chemical treatment
-
Others
Proper
medical waste management in developed and emerging economies is
expected to fuel growth of the medical waste management market
Government
initiatives to support medical waste management is encouraging
effective medical waste management. For instance, the Union Ministry
of Environment, in 2017, issued a guideline for developing bar codes
in the hospitals and clinics in compliance with Bio-medical Waste
Managements, rule 2016. This aims to monitor the source of generation
of medical waste and its proper disposal, which in turn is expected
to control the hazardous effects caused by medical waste. This
initiative by the government is expected to propel growth of the
medical waste management market in the near future. Training given to
the hospital staff to separate and dispose waste properly is critical
for the success of such programs or initiatives. Developed regions
such as North America and Europe are adopting proper medical waste
management. For instance, many hospitals in U.S. have started
recycling the single-use products, which are sold back to the
hospitals at fraction of the original cost.
Strict rules
imposed by government for proper disposal of medical waste is
expected to augment medical waste management market growth in the
near future
Incineration is the
most commonly used method for disposing medical waste, however, it is
not a safe procedure as it emits lots of gases, which are responsible
for global warming. Environment Protection Agency (EPA) have imposed
strict rules regarding incineration due to increasing global warming.
Strict rules imposed by government bodies for proper medical waste
disposal such as recycling and emission, is increasing the demand for
medical waste management. Various non-incineration techniques are
used such as autoclave treatment, non-ionization treatment, and some
chemical treatment. Government and non-government bodies are working
by spreading awareness among masses for proper technique of disposing
medical waste in non-hazardous state. The key market players
operating in the global medical waste management market include
Stericycle, Sharps Compliance, Inc., Veolia Environment, Daniels
Sharpsmart, Clean Harbors, Inc., MedWaste Management, Republic
Services, and Waste Management.
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Waste Management Market
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